Cheap 2017 Toyota Yaris Insurance Cost

Trying to come up with a payment for high-priced insurance coverage can drain your monthly budget, especially in this economy. Doing a rate analysis can save money and help to make sure you’re not throwing money away.

Companies like Allstate, Progressive and Geico increase brand awareness with catchy ads and consumers find it hard to sift through the bull and take the time to shop coverage around.

You should make it a habit to get comparison quotes periodically because insurance coverage prices tend to go up over time. Just because you had the best rates for Yaris coverage a year ago there is a good chance you can find better premium rates now. There is too much inaccurate information about insurance coverage online but in this article, you’re going to get some great ideas on how to quit paying high insurance coverage rates.

First Step: Get free auto insurance quotes

There are several ways to shop for auto insurance, but some are less labor-intensive and much quicker. You could waste a few hours driving to insurance agencies in your area, or you can stay home and use the internet to achieve your goal.

The majority of car insurance companies take part in a program where prospective buyers complete one form, and each participating company provides a quote based on that data. This saves time by eliminating quote forms for every auto insurance company.

To compare rates now click here (opens in new window).

The one disadvantage to comparing rates this way is you are unable to specify the providers you want to price. So if you want to select specific insurance companies to compare, we have a listing of low cost auto insurance companies in your area. Click to view list.

You can use whichever method you prefer to find lower rates, just ensure you’re using the same quote information with each company. If each company quotes higher or lower deductibles then you won’t be able to find the best deal for your Toyota Yaris.

Discounts to earn cheaper car insurance rates

Companies offering auto insurance don’t always list all disounts in an easy-to-find place, so the below list has a few of the more common and the harder-to-find credits available to you. If you check and find you aren’t receiving every discount available, you are paying more than you should be.

• Claim-Free Discount – Claim-free drivers are rewarded with significantly better rates on insurance quote as opposed to drivers with a long claim history.
• Air Bags and Passive Restraints – Factory options such as air bags or automatic seat belts can qualify for discounts of 20% or more.
• First Accident Forgiveness – This one is not really a discount per se, but a few companies such as Liberty Mutual, Allstate and State Farm permit an accident without the usual rate increase with the catch being you have to be claim-free for a particular time prior to the accident.
• Fewer Miles Equal More Savings – Fewer annual miles on your Toyota may allow you to get better rates on cars that stay parked.
• Theft Prevention Discount – Vehicles with anti-theft systems can help prevent theft and qualify for as much as a 10% discount.
• Data Collection Discounts – Insureds who allow data collection to analyze driving manner by using a telematics device such as State Farm’s In-Drive might get better premium rates as long as they are good drivers.
• Government Employee Discount – Simply working for the federal government could cut as much as 10% off for Yaris coverage with select insurance companies.
• Paperless Signup – A few larger companies will provide an incentive for buying your policy on the internet.
• Discount for New Cars – Buying a new car model can be considerably cheaper compared to insuring an older model.
• Anti-lock Brake Discount – Cars with anti-lock braking systems have fewer accidents so you can save 10 percent or more.

As a footnote on discounts, some credits don’t apply to all coverage premiums. Some only apply to individual premiums such as comp or med pay. So when the math indicates you can get free auto insurance, companies wouldn’t make money that way. Any qualifying discounts will reduce the premium cost.

Companies and a selection of discounts are included below.

• American Family has savings for multi-vehicle, TimeAway discount, early bird, mySafetyValet, defensive driver, and air bags.
• State Farm discounts include good student, passive restraint, accident-free, Drive Safe & Save, driver’s education, and anti-theft.
• 21st Century offers premium reductions for driver training, teen driver, good student, student driver, and defensive driver.
• Travelers may offer discounts for save driver, payment discounts, driver training, new car, early quote, continuous insurance, and IntelliDrive.
• Geico offers discounts for defensive driver, driver training, air bags, emergency military deployment, and military active duty.

Before you buy a policy, ask each company which discounts can lower your rates. Discounts may not apply in your area. If you would like to choose from a list of car insurance companies with the best discounts, click here.

Components of your Toyota Yaris insurance prices

Lots of factors are part of the equation when you get a price on insurance. Most are fairly basic such as your driving record, but other factors are less apparent such as your marital status or how financially stable you are.

• Buy a safe car and pay less – Vehicles with high crash test scores are cheaper to insure. Vehicles engineered for safety have better occupant injury protection and reduced instances of injuries translates into fewer and smaller insurance claims and lower rates for you. If the Toyota Yaris scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may cost less to insure.
• Liability coverage limits are a factor – Liability insurance is the protection when a court rules you are at fault for damages from an accident. It will provide you with a defense in court which can cost thousands of dollars. This coverage is very inexpensive when compared to the cost of physical damage coverage, so do not skimp.
• Raising deductibles saves money – The deductibles you choose define the amount you are required to pay before a claim is paid by your company. Protection for physical damage, aka comp and collision, covers damage that occurs to your car. Some examples of covered claims could be a windshield broken by a bird, damage caused by hail, and damage caused by road hazards. The more damage repair cost the insured is willing to pay, the less your company will charge you for insurance for Yaris coverage.
• Gender and car insurance rates – The statistics show that females tend to be a little less risky than males. It does not mean women are BETTER drivers than men. Males and females tend to get into at-fault accidents at about the same rate, but males have costlier accidents. Not only are claims higher, but men get higher numbers of serious violations like DWI (DUI) or reckless driving.
• Age of drivers – Mature drivers are proven to be safer behind the wheel, tend to cause fewer accidents and receive fewer citations.Teenage drivers are statistically proven to be careless and easily distracted when behind the wheel so insurance rates are higher.
• Frequent insurance claims increase rates – If you are a frequent claim filer, you shouldn’t be surprised to get either a policy non-renewal or much higher rates. Insurance companies award cheaper rates to people who do not rely on their insurance for small claims. Auto insurance is designed for claims that pose a financial burden.
• Careless driving leads to higher premiums – Even one citation can increase rates to the point where it’s not affordable. Attentive drivers tend to pay less for car insurance compared to drivers with tickets. Drivers who get dangerous tickets such as DWI, reckless driving or hit and run convictions are required to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to drive a vehicle legally.
• More people means more accidents – Having an address in small towns and rural areas has it’s advantages when buying insurance. Fewer drivers on the road means reduced accidents in addition to fewer liability claims. Drivers who live in large cities regularly have more road rage incidents and much longer commute distances. Spending more time driving means a statistically higher chance of an accident.

Tailor your car insurance coverage to you

When buying the best car insurance coverage, there isn’t really a perfect coverage plan. Each situation is unique and your policy should reflect that. For instance, these questions could help you determine whether or not you could use an agent’s help.

• At what point should I drop full coverage?
• Do I need special endorsements for business use of my vehicle?
• What exactly is covered by my policy?
• Does my policy pay for OEM or aftermarket parts?
• Are there companies who specialize in insuring high-risk drivers?
• Can my teen driver be rated on a liability-only vehicle?
• Am I covered when driving on a suspended license?

If you don’t know the answers to these questions but one or more may apply to you then you might want to talk to an insurance agent. If you don’t have a local agent, simply complete this short form or go to this page to view a list of companies. It is quick, free and you can get the answers you need.

Advertising myths

Consumers can’t avoid all the ads for the lowest price auto insurance from the likes of State Farm and Allstate. All the ads make the same claim that people will save if you move to their company.

Is it even possible that every company can give you a lower rate? It’s all in the wording.

All the different companies have specific guidelines for a prospective insured that makes them money. For instance, a driver they prefer may be between the ages of 30 and 50, is a homeowner, and drives less than 7,500 miles a year. Anyone who matches those parameters receives the best premium rates and is almost guaranteed to cut their rates if they switch.

Consumers who are not a match for these stringent criteria will get higher rates which results in the customer not purchasing. If you listen to the ad wording, they say “drivers who switch” but not “everyone who gets a quote” can save as much as they claim. That is how companies can advertise the way they do. Because of these techniques, it’s extremely important to get a wide range of price quotes. It is just not possible to predict the company that will give you lower premium rates than your current company.

Detailed coverages of your insurance policy

Knowing the specifics of insurance aids in choosing the best coverages for your vehicles. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement. Below you’ll find the normal coverages found on the average insurance policy.

Uninsured/Underinsured Motorist (UM/UIM) – This gives you protection from other motorists when they either have no liability insurance or not enough. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked.

Liability car insurance – This coverage will cover injuries or damage you cause to other people or property in an accident. This insurance protects YOU against claims from other people, and doesn’t cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 50/100/50 that translate to a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property.

Liability can pay for claims such as attorney fees, medical expenses, repair costs for stationary objects, emergency aid and court costs. How much coverage you buy is a personal decision, but you should buy as much as you can afford.

Comprehensive insurance – Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things such as damage from getting keyed, rock chips in glass, theft and hitting a deer. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP kick in for short-term medical expenses for hospital visits, EMT expenses, ambulance fees and funeral costs. They are often used in conjunction with a health insurance program or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants and also covers any family member struck as a pedestrian. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Collision coverages – This covers damage to your Yaris resulting from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision insurance covers things like crashing into a building, damaging your car on a curb, scraping a guard rail and hitting a mailbox. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to increase the deductible to get cheaper collision coverage.

Pennies from heaven

When you buy insurance online, it’s very important that you do not skimp on coverage in order to save money. There are too many instances where an accident victim reduced uninsured motorist or liability limits to discover at claim time that their decision to reduce coverage ended up costing them more. Your strategy should be to buy the best coverage you can find for the lowest price, not the least amount of coverage.

In this article, we covered a lot of information how to save on 2017 Toyota Yaris insurance. The most important thing to understand is the more price quotes you have, the higher the chance of saving money. Consumers could even find that the best price on insurance is with the smaller companies. These smaller insurers may only write in your state and offer lower rates compared to the large companies like State Farm, Geico and Nationwide.

Other resources

• Things to Know Before you Cancel Insurance (Allstate)
• Choosing an Insurance Company (Insurance Information Insitute)
• Cellphones, Texting and Driving (iihs.org)
• Credit and Insurance Scores (Insurance Information Insitute)
• Five Steps to Filing an Auto Insurance Claim (Insurance Information Insitute)
• Senior Drivers (Insurance Information Insitute)